"Finally, we currently expect that in 2008 our Special Needs Plans will produce revenues of between $88,000,000 and $95,000,000. We base this guidance on several factors:
-- Our current revenue run rate, now at $44 million, coupled with probable
increases in reimbursement.
-- A nearly 80% expansion of Medicare beneficiaries who are eligible for
our plans in both states as a result of recent approvals for our five
SNPs for 2008.
-- Continued expansion of both our medical provider and insurance broker
networks, especially in New Jersey, underlying a positive outlook on
the open marketing period that extends from October through December.
-- Increasing awareness with our programs in New Jersey among agents,
physicians and existing members.
"We are clearly planning for vigorous growth in 2008 and beyond. We are confident that our experience managing chronically ill beneficiaries in Medicare demonstrations as well as in Medicare health plans has shown that we have the ability to manage this growth successfully," she concluded.
Financial results for the third quarter of 2007 will be available on
Monday, October 8, 2007 at 4:00 p.m. Following the release, the Company
will hold its quarterly conference call at 5:00 p.m. Eastern time.
Investors will have the opportunity to listen to the conference call by
dialing 877-356-9649, conference ID: 18623908 at least 5 minutes prior. A
replay will be available two hours after the call's completion for 30 days
by dialing 800-642-1687, and using the same ID code, and the replay will
also be available on the Company's Web site at
|SOURCE QMed, Inc.|
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